Hercules Silver Corp. reported that the Company has increased its previously announced Phase II drill program on the Hercules Property located in western Idaho. Following the receipt of approximately $1.3 million in cash from the recent exercise of options and warrants and the closing of a $5.75 million private placement, the Hercules Adit and Frogpond Zones, the Hercules Adit and Hornpond Zones.

The primary goals of the Phase II program will be to (i) extend the best-known historical mineralization at the Hercules Adit and Frog pond Zones, and (ii) test multiple new targets generated by recent greenfields exploration. A third phase of drilling will follow, once all assay results have been received, interpreted and released to the market. The upcoming Phase II drill program is anticipated to commence in the next two weeks.

Drilling Method: The Company has selected Timberline Drilling of Hayden, Idaho (‘Timberline') to carry out the Phase II program. Timberline will provide a rig capable of oriented core drilling, offering significantly more geological and structural information than previous reverse-circulation (‘RC') drilling methods on the Property. Oriented core helps determine the direction that mineralization is trending and increases the viability of tracing mineralized zones with subsequent step-out holes.

To maximize core recovery, Timberline will utilize triple tube barrels to improve on historical recoveries, particularly within the mineralized zones. The objectives of the program are to: Drill test the various targets outlined in further detail in the following section; Obtain high-quality geological and structural information using oriented drill core; Utilize triple tube barrels for improved core recoveries; Further refine the exploration model; and provide an indication as to the overall target size and vectors within the system. All of these targets will be drilled from land on which Hercules Silver holds mini mining rights, including surface drilling rights, as well as a small 20-acre parcel of Bureau of Land Management (BLM) land for which the Company holds a drill permit.

The system extends onto lands managed by the United States Forest Service (USFS), for which the Company is currently in the permitting process, including the Grade Creek Zone. Further updates will be made available with respect to permitting progress on other select targets on the Property.